TEAM INTRODUCTION
Tian Jiang
Tian Jiang (Ding Feng Asset Consumption fund manager) Master's degree and bachelor's degree from Moscow State Pushkin University, joined Shanghai Dingfeng Asset Management Co., Ltd. in 2009, covering the research of large consumption (food and beverage, brand clothing, commercial retail industry). Now Ding Feng big consumption fund manager.
Detailed introduction
Investment philosophy and style
Long-term thinking, value investing; Select industries and companies from the perspective of business, weaken timing, focus on corporate value; Aiming for absolute returns, reduce volatility through multi-track balanced configuration and overall positioning.
Individual stock selection criteria
The stock selection logic revolves around solving the stability and long-term nature of the position, so there must be strict and clear requirements for the selected stocks:
Good Saida: The company needs to be in a good industry, and the definition of a good track is a large market space, high competition barriers, and strong profitability.
Good company: The definition of "good company" : the key lies in the quality of the company's growth, as well as the certainty and speed of growth. We want to find and invest in small companies to become big companies, not companies that are good today but can't grow and grow in the future. At the same time, a growing company should have a good governance structure and excellent management, and the financial quality of the company is also an important consideration.
Certainty: Seeking certainty, the prediction of the future is often full of uncertainty, but we have to pursue relative certainty through professional research. The certainty we pursue includes: the certainty of the industry development trend and the certainty of the company's performance, as well as the norms of the corporate governance structure and the stability of the management team.
Investment time: For the target company that decides to invest, we will determine the appropriate purchase price based on the objective pricing system based on the industry and its own prosperity, combined with the market liquidity environment. Only when the market price is close to the intrinsic value of the company, we will choose the opportunity to participate.
Ding Feng Temple
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